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Thailand’s rubber product exports predicted to rise in 2020

Thailand's rubber product exports are expected to fetch 359 billion baht (11.35 billion USD) in 2020, 3.19 percent higher than last year, according to Thai Commerce Minister Jurin Laksanawisit.
Thailand’s rubber product exports predicted to rise in 2020 ảnh 1A local farmer taps a rubber tree in Phuket. (Photo: https://www.bangkokpost.com/)

Bangkok (VNA) - Thailand's rubber product exports are expected to fetch 359 billion baht(11.35 billion USD) in 2020, 3.19 percent higher than last year, according toThai Commerce Minister Jurin Laksanawisit.

Speaking after a meeting on October 1 with the International Trade PromotionDepartment, Rubber Authority of Thailand and rubber cooperatives, Jurin said Thailandis likely to see higher shipments of rubber because of rising demand for rubbergloves and auto tyres, as well as the government's proactive approach topromote rubber exports.

Meanwhile, the country’s natural rubber shipments are expected to drop by 5percent to 122 billion baht by year-end.

Jurin said global demand for rubber gloves and auto tyres keeps risingsignificantly because of the global economic recovery after lockdown measuresto curb the COVID-19 pandemic are being relaxed.

In the first eight months of 2020, shipments of rubber products rose 2.32percent year-on-year to 235 billion baht, while natural rubber exportsdecreased by 28.7 percent to 65.7 billion baht.

Thailand is the world's largest producer of natural rubber, making 4.8 milliontonnes last year, with exports accounting for almost 4 million tonnes.

In 2019, Thailand raked in 11.2 billion USD from exporting rubber products andprocessed rubber./. 
VNA
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